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    1 Stewart St Dolgeville, NY 13329

    Sponsored
    For Sale
    $947,000

    High-Yield Retail Investment in NY

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 9,000 square foot Dollar General storefront located at 1 Stewart St, Dolgeville, NY 13329. Built in 2007 on a 0.64-acre lot, this property boasts a strong 7.50% cap rate and a substantial NOI of $71,040. The current lease, a Net Net (NN) agreement, has 5 years remaining on a 10-year term, with a further 4.7 years remaining due to an early lease extension by the tenant. This extension underscores Dollar General's long-term commitment to this location. The lease includes 10% increases in option periods. The property benefits from a high occupancy rate of 100% and is situated in a desirable area with an average household income of approximately $74,000 within a 3-mile radius. Dollar General, a tenant with an investment-grade credit rating of bbb (S&P), has demonstrated consistent growth, reporting 34 consecutive quarters of sales increases. Its e-commerce presence and recession-resistant business model provide significant long-term stability, particularly attractive in a potentially softening market. Dollar General's extensive network of over 20,000 locations and ongoing expansion plans further solidify this investment's potential. The asking price for this prime retail property is $947,000. This is a rare opportunity to acquire a high-performing, stable investment with a blue-chip tenant in a strong market.

    Property Features for 1 Stewart St

    General Information

    Property type
    Individual retail properties
    Lot Size
    27,878 SF

    Building Details

    Year Built
    2007

    HighLights

    • Tenant extended lease early, demonstrating long‑term commitment.
    • Approximately 4.7 years remaining on a 10‑year lease extension.
    • 10% rent increases in option periods.
    • Average household income within a 3‑mile radius is approximately $74,000.
    • Dollar General has an investment‑grade credit rating of bbb (S&P).
    • Dollar General reported 34 consecutive quarters of sales growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store Redbox Movie Rental Kiosk FedEx OnSite Mailing Service Western Union Money Transfer Service MoneyGram Money Transfer Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dolgeville
    County
    Herkimer
    State
    New York
    Longitude
    -74.7810794
    Latitude
    43.0937286

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    FAQs

    What type of property is this?
    Individual retail property - High-Yield Retail Investment in NY
    Where is this individual retail property located?
    The property is located at 1 Stewart St Dolgeville, NY.
    What is the asking price?
    The asking price for this property is $947,000.
    What are key features of this property?
    This property features: Tenant extended lease early, demonstrating long-term commitment.; Approximately 4.7 years remaining on a 10-year lease extension.; 10% rent increases in option periods.
    Request Owner's contact information
    1 Stewart St Dolgeville, NY 13329
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 Stewart St Dolgeville, NY 13329
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